Allica Bank vs Close Brothers: Which UK Business Finance Provider in 2026?
Allica Bank is the stronger all-round pick on the FundBiz specialty panel, but Close Brothers wins on specific files. Allica Bank runs sme term loan + commercial mortgage at £150k to £5m on from 7.99% apr; Close Brothers runs asset finance, invoice finance, commercial loans at £25k to £25m+ on bespoke, quoted at offer. The right answer depends on ticket size, trading history and sector. Close Brothers beats Allica Bank for established smes needing asset or invoice finance. Read the side-by-side, then jump to the "when X wins" sections for the buyer-fit logic.
Side-by-side
Full profiles: Allica Bank · Close Brothers
| Allica Bank | Close Brothers | |
|---|---|---|
| Product type | SME term loan + commercial mortgage | Asset finance, invoice finance, commercial loans |
| Ticket range | £150k to £5m | £25k to £25m+ |
| Typical rate | From 7.99% APR | Bespoke, quoted at offer |
| Decision time | 5 to 10 business days | 5 to 14 business days |
| Soft search at quote | No (hard search) | No (hard search) |
| Ltd-only? | Yes | No |
| FCA regulated | Yes | Yes |
| Best for | Established Ltd companies with £250k to £5m tickets; Asset-backed and commercial-mortgage applicants wanting real bank underwriting; Applicants who can wait 5 to 10 business days for a decision | Established SMEs needing asset or invoice finance; Print, transport, manufacturing, motor trade; Broker-introduced deals |
| FundBiz panel view | Stronger all-round | Wins on specific files |
| Last reviewed | 2026-06-12 | 2026-05-08 |
When Allica Bank wins
- Genuine PRA-regulated bank with FSCS protection on linked deposit accounts, which we lean on for risk-averse applicants.
- Rate transparency is among the cleanest on our panel, which makes the matcher quote credible.
- First-choice lender on our panel for £250k+ tickets where Funding Circle and OakNorth are the alternative routes.
- Real underwriter on the case, so files with complexity that need a human get one.
Best for
Established Ltd companies with £250k to £5m tickets, Asset-backed and commercial-mortgage applicants wanting real bank underwriting, Applicants who can wait 5 to 10 business days for a decision.
Watch outs
- Slower than fintech alternatives, so we send time-critical applicants elsewhere.
- Hard credit search at full application stage, so we confirm applicant intent before pushing the file across.
- Below £150k they will not engage, so we route sub-£150k Ltd applicants to Allica alternatives like Funding Circle, Aldermore or iwoca.
When Close Brothers wins
- Genuine UK merchant bank with 145+ years of trading history.
- Multiple product lines under one underwriter (asset, invoice, commercial loans).
- Strong sector specialisms in print, transport, manufacturing and motor trade.
- PRA-regulated; FSCS deposit protection on linked savings products.
Best for
Established SMEs needing asset or invoice finance, Print, transport, manufacturing, motor trade, Broker-introduced deals.
Watch outs
- Broker-distributed, not self-serve.
- Headline rates not published; quoted at offer.
- Slower than fintech alternatives.
FAQ
Allica Bank or Close Brothers: which is the better UK business finance provider in 2026?
Allica Bank is our stronger all-round pick on the FundBiz specialty panel, but the right answer depends on what your file looks like. Allica Bank is the stronger pick for established ltd companies with £250k to £5m tickets, while Close Brothers is the stronger pick for established smes needing asset or invoice finance. If your file sits in one of those buckets, pick the right fit rather than the headline. See our /methodology/ for how we assess each lender.
What does each product look like, Allica Bank vs Close Brothers?
Allica Bank offers sme term loan + commercial mortgage between £150k to £5m at from 7.99% apr, with a 5 to 10 business days decision window. Close Brothers offers asset finance, invoice finance, commercial loans between £25k to £25m+ at bespoke, quoted at offer, with a 5 to 14 business days decision window. Allica Bank runs a hard credit search at full application. Close Brothers runs a hard credit search at full application. Verify live commercials before signing because lender pricing moves and bespoke rates are common above £100k tickets.
Which is weakest for what?
Allica Bank is the wrong answer for sub-£150k tickets, route to funding circle, iwoca or aldermore. Close Brothers is the wrong answer for self-serve sub-£25k. If either of those describes your file, look at the side-by-side table for the alternative route, or run the eligibility checker and the matcher will surface the right shortlist from the FundBiz specialty panel.
Can FundBiz help me choose between Allica Bank and Close Brothers?
Yes. We are independent of either lender. The FundBiz specialty panel covers MCA, asset finance, commercial mortgage, bridging, VAT loan, R&D advance and post-decline routes. Tell us ticket size, trading history, sector and any prior declines. We match you against the panel lenders most likely to approve, and if your file needs a post-decline route we surface that explicitly rather than burning credit-file footprint with repeated mainstream applications.
Am I eligible to apply via FundBiz?
FundBiz works with limited companies, LLPs and partnerships of 4 or more partners. Sole traders and partnerships under 4 partners are out of scope and routed elsewhere. Both Allica Bank and Close Brothers sit on our panel for the entity types we serve. Trading history requirements vary by lender, so the matcher pre-screens before sending the file across.
Related comparisons
Other UK specialty finance head-to-heads involving Allica Bank or Close Brothers:
Check eligibility in two minutes
Tell us ticket size, trading history and sector. We match you against the FundBiz specialty panel: MCA, asset finance, commercial mortgage, bridging, VAT loan, R&D advance and post-decline routes. Limited companies, LLPs and partnerships of 4+.
Check eligibility →Reviewed by Oliver Mackman, Director, Best Business Loans Ltd. Last reviewed: 2026-06-12. Editorial by Best Business Loans Ltd (16833937).